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Following months of negotiations aimed at selling the 840,000 square foot facility, a deal was announced on Tuesday for the factory to be bought by American company Global Net Lease (GNL). The transaction is expected to be completed in the second quarter of this year and will include a 20-year lease for McLaren. James Nelson, CEO of GNL, said: “We are excited to announce that this world-class facility will become part of the GNL portfolio. "The McLaren Group Headquarters' state of the art buildings have won numerous awards, were designed by renowned architect Norman Foster, and are the type of mission-critical, net-leased properties that make up the GNL portfolio.” McLaren faced serious cash flow issues last year and, as it looked for ways to bolster its finances, it believed there was no benefit to having cash locked up in its factory facility. It pursued a sale-and-leaseback deal to help deliver an instant financial boost, as it allows it to capitalise on the … [Read more...] about McLaren sells F1 factory in £170 million leaseback deal

Button and Buncombe, together with Bob Neville, founded the Jenson Team Rocket RJN squad in 2019 that has gone on to compete in Blancpain GT Series (now GT World Challenge Europe) and British GT in the last two years. The outfit was originally intending to expand into the DTM in 2021 with a one-car entry, going as far as making an official announcement in December, but it was revealed last month that those plans have been put on the backburner in favour of a full season in both British GT and GTWCE. However, the British-based team hasn’t completely given up on the DTM yet and is targeting an entry into the revamped GT3-based category next year, possibly with two cars. This has opened up the possibility of Button racing in the DTM as a guest driver, having largely remained out of action since he stepped down from SUPER GT at the end of the 2019 season. Asked if the 2018 GT500 champion could make a cameo in the DTM when Jenson Team Rocket RJN eventually joins the … [Read more...] about Button could make guest appearances in DTM next year

The two teams have taken a victory apiece so far this year, with Lewis Hamilton winning the season opener in Bahrain and Max Verstappen triumphing at Imola last weekend. With very little to choose in performance terms between the two cars, both teams are continuing to push hard to improve their packages as much as possible. However, with F1 teams knowing they need to commit as much resource as possible to developing the all-new 2022 challenger, there will soon come a point where they will have to decide when to abandon the current project. Red Bull motorsport advisor Marko reckons, however, that one of the consequences for his team and Mercedes if things remain as close is that both will have to keep pushing on beyond the point that is ideal to stop. He is clear that Red Bull needs to knuckle down and do everything to win the title, which is why he welcomes the buzz the team's form has delivered. "We need this euphoria, and also the passion and enthusiasm," he … [Read more...] about Knife-edge F1 battle risks Red Bull/Mercedes development war

Stewards determined the Alfa Romeo driver breached regulations having failed to enter the pitlane for the restart of the race after the red-flag period caused by the clash between Valtteri Bottas and George Russell. On the lap prior to the restart following the race suspension, Raikkonen spun his Alfa Romeo at Turn 3. Sporting regulations dictate that a driver may retake his position as long as this is achieved prior to the first safety car line. If this is not completed, then the driver must enter the pitlane and rejoin the race once the entire field has passed on the restart. As a result, Raikkonen has lost his ninth place finish, dropping him to 13th, while promoting the Alpine duo of Esteban Ocon and Fernando Alonso to ninth and 10th respectively. It ensures two-time world champion Alonso will score a point in only his second race back after two years away. "On the lap before the re-start following the race suspension, Raikkonen spun at Turn 3. Art 42.6 indicates … [Read more...] about Raikkonen loses points after post-race penalty at Imola

Home Four wheelers oi-Punith Bharadwaj By Punith Bharadwaj Published: Tuesday, April 20, 2021, 19:12 [IST] Maruti Suzuki India Limited (MSIL) has transported over 7.2 lakh vehicles using Indian railways. The company has achieved this impressive feat in the past five years. The company has shipped over 1.8 lakh units via the Indian Railways in 2020-21 alone. In comparison, Maruti Suzuki shipped around 88,000 units back in 2016-17. According to the company, the increased focus on using railways has helped it to offset over 3,200 MT of CO2 emissions, cumulatively. Currently, the automaker is using five loading terminals located in Gurgaon, Farukhnagar, Kathuwas, Patli and Detroj. The vehicles are being shipped to over 15 cities across India. This includes Bangalore, Nagpur, Mumbai, Guwahati, Mundra Port, Indore, Kolkata, Chennai, Hyderabad, Ahmedabad, NCR, Siliguri, Coimbatore, Pune, and Agartala. With the … [Read more...] about Maruti Suzuki Railway Transportation Milestone Mark Achieved: Ships Over 7.2 Lakh Vehicles